Consumers’ Perception of U.S. Housing Gains Ground

Boomers Make Noise While Millennials Exercise Patience in Quest for Homes

Homeowner survey Boomers - Real Estate Market

[Scottsdale, AZ] (August, 24, 2016) — Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, and Berkshire Hathaway HomeServices Arizona Properties today released results of its latest Homeowner Sentiment Survey indicating that current and prospective homeowners remain optimistic about the current state of the U.S. real estate market. Respondents cite higher home values, increasing housing inventory and low interest rates as the main reasons for their optimism.

The survey showed that 66% of existing homeowners view the U.S. real estate market favorably, representing a 5-percentage point jump since spring to the highest level in more than a year. Favorability also grew most among baby boomers, who are making noise with a newly favorable attitude toward the housing market. To date, boomers have been the most pessimistic group tracked in the ongoing survey but the latest results reveal a full 60% of boomers view the housing market favorably, a 6-point increase since last spring.

“We find this data particularly interesting in light of the housing-inventory shortage seen in many markets,” said Gino Blefari, CEO of Berkshire Hathaway HomeServices. “As homeowners feel increasingly confident about the outlook of housing and their homeownership investments, they are more likely to consider a move for themselves – up, down or laterally to another market. Perhaps this is a signal that more existing homes may gradually come to market freeing up more options for first-time and move-up buyers.”

Millennials Are Most Optimistic

Among all respondents, millennials are most optimistic about the real estate market and are the most satisfied with the U.S. economy. In fact, 76% of respondents ages 18 to 34 view housing favorably, up a point from last spring and a full 17 percentage points from November. A large majority of millennials (85%) also believe that owning a home is an important part of the “American Dream,” a sentiment shared with older generations.

Mortgage rates remain low but how low is up to interpretation. Just 13% of millennial respondents described loan rates as “low” while 53% categorized them as “average.” Additionally, millennials indicated that their biggest challenge in purchasing a home is securing a low mortgage rate. Gen-Xers said their largest barrier to homeownership is saving money for the purchase, while boomers – in concert with their growing confidence – said their biggest challenge is “finding a home that suits their family’s wants and needs.”

The possibility of rising mortgage rates remains a concern among all demographic groups surveyed. Not surprisingly, 81% of prospective homebuyers expressed concern about rate increases. “Mortgage rates have been low for so long it’s only reasonable for rates to rise a little at some point down the road,” said Stephen Phillips, president of Berkshire Hathaway HomeServices. “If and when rates do rise, it’s also reasonable to expect only a gradual increase over time – no rate shock.”

Q4 survey - feelings on RE graph

 

Berkshire Hathaway HomeServices Consumer Sentiment Survey Methodology

Interviews with 2,521 respondents were conducted online by Edelman Intelligence in June 2016. The respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months). The margin of error is +/-2.2% for current homeowners and +/- 4.4% for prospective homeowners.

ABOUT BERKSHIRE HATHAWAY HOMESERVICES ARIZONA PROPERTIES

Berkshire Hathaway HomeServices Arizona Properties is a part of Americana Holdings, which also includes Berkshire Hathaway HomeServices California Properties and Berkshire Hathaway HomeServices Nevada Properties. The firms are leaders in their respective markets with 25 offices and 2,200 agents, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Combined, the companies sold $3.1 billion in real estate in 2015.

In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices around the world. For more information, visit www.bhhsaz.com or call 480-505-6300.

 

About Berkshire Hathaway HomeServices and HSF Affiliates LLC

Berkshire Hathaway HomeServices, based in Irvine, CA, is a real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visit www.berkshirehathawayhs.com.

Irvine, CA-based HSF Affiliates LLC operates Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate franchise networks. The company is a joint venture of which HomeServices of America, Inc., the nation’s second-largest, full-service residential brokerage firm, is a majority owner. HomeServices of America is an affiliate of world-renowned Berkshire Hathaway Inc.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, and are used under license with no other affiliation with Prudential.

Media Contacts:

Sarah Thornton

(702) 796-7777

sarah@sarahthorntonpr.com

 

Kevin Ostler
(949) 794-7980

kevinostler@hsfranchise.com

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Buying Vs Renting – Rental Rates are Increase

Buying Vs Renting – Price Increase

Rent increase Graphic 2016 AZ

Have you taken a look at the Rental trends in your community? We are sure you noticed the rent hike the last time you went in to renew your lease. Rental costs are skyrocketing and the costs are likely to only go up in 2017.

More than 85 percent of the nation’s markets have rents that exceed 30 percent of the income of renting households.

With rents accelerating at a more rapid pace than home prices it is definitely worth your time to set us a consultation with a local REALTOR® and see how much home you can buy for what you are currently paying in rent.

Click here to find a Real Estate agent and get a free consultation.

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CONSIDERING A REMODEL?

What do you need to know about considering a remodel to help your home sell?

Remodel

Many homeowners think they need to undertake large scale projects when getting their home ready for the market. It takes an experienced professional to know which projects deliver value and which just cost you a lot of money. You should always consult your Real Estate professional when making these decisions before you commit to any contracts.

Some real estate professionals will have access to a special network of businesses that have been vetted so you know you are getting someone who is licensed and bonded. In some cases you will also be able to get a discount because you are working with a specific real estate company or agent.

Our Recommended Upgrade Projects:

  • Create a more open floor plan
  • Prune Landscaping so the home is easily visible. You don’t want to cloud your first impression.
  • Quick exterior maintenance for maximum curb appeal
  • Any general maintenance inside. Any do-it-yourself fixes should be re-looked at by a professional.
  • Flooring refresh- new tile, stone or wood can bring a fresh look and add value
  • Clean all grout, apply fresh caulk and new faucets to the kitchen and all bathrooms
  • Paint with more neutral wall colors. Your design tastes might not be for everyone and it is easier for buyers to imagine their own colors on a neutral surface.

Contact one of our real estate agents to find out more.

 

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Arizona Real Estate Firm Receives National Recognition

REAL Trends’ The Thousand Recognizes Berkshire Hathaway HomeServices Arizona Properties among the best in the nation.

 

Scottsdale (July 26, 2106) Eight Berkshire Hathaway HomeServices teams and two The Thousand Screen shotindividual real estate sales executives have been recognized among the leading professionals in American real estate, according to REAL Trends’ The Thousand. REAL Trends, in conjunction with The Wall Street Journal, recently published “The Thousand” list of America’s top 1,000 real estate sales professionals and teams.

“The Thousand,” as advertised in The Wall Street Journal, is an annual, national awards ranking sponsored by REAL Trends and advertised in The Wall Street Journal. Designees are recognized as the top one half of one percent of more than 1.1 million licensed Realtors® nationwide. The Thousand is divided into four categories, each listing the top 250 designees: Individual Agent—Sales Volume; Individual Agent—Transaction Sides; Agent Team—Sales Volume and Agent Team—Transaction Sides.

“Our teams were among the top in Arizona for sides, or number of transactions,” said Mark Stark, CEO of Berkshire Hathaway HomeServices Arizona Properties. “And our top six teams represented $258 million in Arizona real estate sales last year. Berkshire Hathaway is the leading name in real estate and it shows with the REAL Trends/Wall Street Journal rankings.”

Berkshire Hathaway HomeServices Arizona Properties executives recognized in “The Thousand” included:

Individuals by Transaction Sides: 

#54  Olga Griffin ………………………………. 58 transactions

Individuals by Sales Volume: 

#14   Linda Salkow ……………………………… $27 million

Teams by Transaction Sides:

#45   The Chandler Ocotillo Group………… 132 transactions

#49    Team Santistevan……………………….. 129 transactions

#51    Alan Levanson Team……………………. 126 transactions

#68    Sterling Elite Properties Group………. 100 transactions

#97    The Berrett Team………………………….. 79 transactions

#103   The Olberding Team…………………….. 77 transactions

Teams by Sales Volume:

Rank #9     The Power of 4…………………….. $77 million

Rank #23   Sterling Elite Properties Group…… $48 million

Rank #34   Team Santistevan……………………… $38 million

Rank #45   The Chandler Ocotillo Group……… $34 million

Rank #53    Alan Levanson Team……………….. $31 million

Rank #54   Colleen Seymour & Associates……. $30 million

 

“Berkshire Hathaway HomeServices is home to some of Arizona’s most successful real estate sales executives and teams,” said Stark. “We’re proud to be their partners in representing their clients and marketing properties both locally and internationally.”

ABOUT BERKSHIRE HATHAWAY HOMESERVICES ARIZONA PROPERTIES

Berkshire Hathaway HomeServices Arizona Properties is a part of Americana Holdings, which also includes Berkshire Hathaway HomeServices Nevada Properties and Berkshire Hathaway HomeServices California Properties. The firms are leaders in their respective markets with 25 offices and 2,000 agents, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Combined, the companies sold $3.1 billion in real estate in 2015.

In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices around the world.

For more information, visit www.bhhsaz.com or call 480-505-6300.

Disclaimer: In composing THE THOUSAND by REAL Trends as advertised in The Wall Street Journal and the REAL Trends Best Real Estate Agents in America rankings we reach out to request applications to virtually every leading brokerage organization, virtually all Realtor® associations and MLS and a variety of other sources. Even given this, we recognize that not every eligible sales professional knows of this ranking report and there are some who prefer not to share their data with us. There are some that are missed. We do verify through third party sources every applicant’s submission.

 

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For Your Real Estate Needs We Are Always On Active Duty

Buying a home has never been this simple for Military Members.

Millitary Connection

Take a look at our comprehensive Berkshire Hathaway HomeServices Military Programs.

With the Berkshire Hathaway HomeServices Military Program, you can take comfort in knowing that the home you are buying is not only priced within 5% of fair market value, as determined by a local comparative market analysis, it is also located within 25 miles of a government installation and come with a buyer’s home warranty at closing.

Let Berkshire Hathaway HomeServices Nevada Properties take the guesswork out of your next move.

Berkshire Hathaway HomeServices Nevada Properties Military Advantage Program-

If you are an active or retired member of the military you are eligible to participate in the Nevada Properties MILITARY Advantage program. Civilian military employees can also participate using the HOME Base exception. Immediate family members are also eligible (parents, siblings, children). This program can be used multiple times with no time limit.

As a Buyer or Seller of real estate – your membership can be rewarded with rebates when buying or selling a home.

You can receive a Credit at closing, based on sale price just by participating in our Nevada Properties Military Advantage program. BEFORE contacting a real estate agent on your own – contact us to get registered with our office. You’ll be matched with a local real estate expert or you can request a favorite broker/agent if they are willing to work with our referral program. At closing, you will receive your credit.

For more information of this Rebate Military Advantage Program Click Here

 

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Is your home worth MORE than you think?

You most likely have more Equity than you think.

Is your home worth more

More equity means more opportunity to sell your house and buy a home that is better suited to your needs.

37% of homeowners think they  have more than 20% in equity while the more accurate number is 74% of homeowners with more than 20% equity. You could be one of these people. Contact a REALTOR®  for a free home valuation that will tell you how much equity is really in your home and allow you to start making plans to move to your dream home in 2016.

Click here to find a REALTOR®

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Home prices are climbing. Why should you?

If you are near retirement and looking for ways to cut expenses, downsizing to a smaller home is a great option worth considering.

Tired of the Climb

Once the kids have moved out, you probably don’t need all that extra space anymore. Or if you have joined the new generation of road warriors traveling through out the year in your new RV it might not be so important to have a large home.  Luckily, the housing recovery is starting to pick up and home prices are growing fast. Downsizing to a smaller home is a great way to save more money.

Here are 4 reasons to consider:

Less expense: Lower mortgage, lower taxes & lower utility bills
Less home: Less maintenance, less cleaning, less repairs
Safety: Falling is the leading cause of unintentional injury at home
Less is more: Having less of a home can be liberating & give you more time to do what you enjoy!

Call one of our REALTORS today to explore your downsizing options. Click Here to find a list of real estate agents in your community.
Interested in what’s going on is your community?
Click here to get complimentary Market Watch report on the most current prices, listings and real estate trends in your market emailed to you.

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120,000 BOTTLES Of Life Saving Water Raised For The Phoenix Rescue Mission!

 

We set a new record for our “Code Red Water Drive” for the Phoenix Rescue Mission!

Arizona Water Drive win

Thank you all for all of your efforts, because of you we will be giving enough to enable the Phoenix Rescue Mission to provide 120,000 BOTTLES of life saving water!

Last year we raised 105,000 bottles so fantastic job in once again smashing our previous record by 15,000! Since 2013 we have managed to raise more water each year to donate and help the homeless.

The Total Bottles Per Branch Are:

Camelback = 3,435

Carefree = 14,040

Goodyear = 20,406

North Scottsdale = 6,384

Northwest = 3,288

Scottsdale = 57,075

Tempe/Ahwatukee = 15,372

A HUGE THANK YOU TO EACH AND EVERY ONE OF YOU!

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Home Improvements That Pay off

Not all Home Improvements are created equal when trying to add value to your home.

Home Improvements That Pay Off

There are two types of improvements you can do to your home. Improvements that add enjoyment for yourself or your family but might not necessarily add value to your home and improvements are made specifically to add value to your home.

Home improvements that add more curb appeal and make it easier for home buyers to actually see your home will always help to add value to your home and make it easier to sell. Replacing doors, adding decks or porches, and cleaning up landscaping will bring you a good return on the money you invest into your property.

Re-purposing unused spaces into livable areas or adding square footage to your home by adding an additional room are other great options for home improvements that will bring more market dollar when you finally make the decision to sell.

It is important to keep these difference in mind when you are thinking about adding improvements to your home so you see the best returns on the money you invest in your property and when you speak with a REALTOR® about pricing your home to sell.

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3 Reasons to Sell Your Home

What are 3 reasons to sell your home now rather than wait for that “perfect” time.

3_ReasonsToSell_graphic

HIGH DEMAND, LOW SUPPLY.

Increasing rent rates, increased employment and low interest rates are motivating many people to buy homes. However, homeowners are hesitant to sell. Consequently, when a home does go on the market, it usually has multiple offers and sells above asking price.

INTEREST RATE INCREASE.

The Federal Interest Rate has been near zero for several years, but most financial experts expect it to rise by the end of the year. It could increase by as much as a quarter of a percentage point. When this happens, many buyers who are currently eligible for a home will no longer be eligible, and demand will decrease.

YOUR HOME IS PROBABLY WORTH MORE THAN YOU THINK.

Home values have been steadily increasing. Don’t miss the opportunity to cash in on your equity.

In addition to a favorable market, there may be several other reasons to sell that are specific to you and your family.

 

Click here to find a Real Estate agent and get a free consultation.

 

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